Illinois § 118
Full text of Illinois Illinois Compiled Statutes § 118, with citation guidance and answers to common questions.
§ 118.
Withdrawal from the State. (1) Any foreign or alien company admitted to do business in this State may withdraw from this State by filing with the Director a statement of withdrawal, signed and verified by a president, vice-president or an executive officer corresponding thereto, or in the case of a reciprocal or Lloyds, by the attorney-in-fact, and setting forth (a) that the company surrenders its authority to transact business in this State and returns for cancellation its certificate of authority; (b) except in the case of a reciprocal or Lloyds, that the withdrawal of the company from this State has been duly authorized by the board of directors, trustees or other governing body of such company; and (c) a postoffice address to which the Director may mail a copy of any process against the withdrawing company that may be served upon him. (2) Upon the filing of such statement together with its certificate of authority with the Director and payment of any taxes or charges that may be due, the Director shall cancel the certificate of authority and return the cancelled certificate to the company. The authority of the company to transact business in this State shall thereupon cease. (Source: Laws 1937, p. 696.)
Frequently Asked Questions About Illinois § 118
What does Illinois Compiled Statutes § 118 cover?
Section 118 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 118?
A common citation format is "Illinois Compiled Statutes § 118" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.